National Bank of Canada FI Sells 761,161 Shares of Phillips 66 (NYSE:PSX)

Key Points

• National Bank of Canada FI decreased its stock position in Phillips 66 by 67.1%, owning approximately 373,421 shares after selling 761,161 shares in the first quarter.
• In contrast, Price T Rowe Associates Inc. MD increased its holdings by 283.5%, now owning over 6 million shares valued at $686.6 million.
• Phillips 66 recently reported earnings exceeding analysts' expectations, with $2.38 earnings per share for the last quarter, and announced a quarterly dividend of $1.20.

National Bank of Canada FI decreased its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 67.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 373,421 shares of the oil and gas company's stock after selling 761,161 shares during the period. National Bank of Canada FI owned 0.09% of Phillips 66 worth $46,110,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Brighton Jones LLC grew its holdings in Phillips 66 by 238.5% during the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company's stock valued at $1,166,000 after purchasing an additional 7,214 shares in the last quarter. Cerity Partners LLC lifted its position in shares of Phillips 66 by 4.2% in the 4th quarter. Cerity Partners LLC now owns 68,582 shares of the oil and gas company's stock worth $8,075,000 after buying an additional 2,752 shares during the last quarter. DRW Securities LLC increased its holdings in shares of Phillips 66 by 14.0% in the 4th quarter. DRW Securities LLC now owns 1,927 shares of the oil and gas company's stock worth $220,000 after acquiring an additional 237 shares during the period. F M Investments LLC increased its holdings in shares of Phillips 66 by 25.8% in the 4th quarter. F M Investments LLC now owns 17,788 shares of the oil and gas company's stock worth $2,027,000 after acquiring an additional 3,646 shares during the period. Finally, Petros Family Wealth LLC bought a new stake in shares of Phillips 66 during the 4th quarter worth about $615,000. Institutional investors and hedge funds own 76.93% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Raymond James Financial set a $142.00 price target on shares of Phillips 66 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Compass Point assumed coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They set a "buy" rating for the company. UBS Group lifted their target price on shares of Phillips 66 from $141.00 to $143.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Wells Fargo & Company reduced their target price on shares of Phillips 66 from $149.00 to $147.00 and set an "overweight" rating for the company in a research note on Wednesday, June 11th. Finally, Cantor Fitzgerald started coverage on shares of Phillips 66 in a research note on Wednesday, June 18th. They issued a "neutral" rating for the company. Ten investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $136.20.

Phillips 66 Stock Performance

Phillips 66 stock traded up $2.46 on Wednesday, hitting $122.50. The company's stock had a trading volume of 2,359,149 shares, compared to its average volume of 3,388,429. Phillips 66 has a one year low of $91.01 and a one year high of $140.85. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60. The company has a fifty day moving average price of $123.25 and a 200-day moving average price of $118.87. The firm has a market cap of $49.50 billion, a P/E ratio of 29.45, a price-to-earnings-growth ratio of 1.63 and a beta of 1.09.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its earnings results on Friday, July 25th. The oil and gas company reported $2.38 EPS for the quarter, beating the consensus estimate of $1.79 by $0.59. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. The company had revenue of $33.77 billion for the quarter, compared to the consensus estimate of $32.11 billion. During the same quarter in the previous year, the company earned $2.31 EPS. On average, equities analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th will be given a dividend of $1.20 per share. The ex-dividend date is Tuesday, August 19th. This represents a $4.80 annualized dividend and a yield of 3.9%. Phillips 66's dividend payout ratio is 115.38%.

Insider Buying and Selling at Phillips 66

In related news, Director Michael A. Heim purchased 1,000 shares of Phillips 66 stock in a transaction that occurred on Wednesday, July 30th. The shares were acquired at an average price of $125.97 per share, for a total transaction of $125,970.00. Following the transaction, the director directly owned 12,043 shares in the company, valued at approximately $1,517,056.71. This represents a 9.06% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Sigmund L. Cornelius purchased 500 shares of Phillips 66 stock in a transaction that occurred on Thursday, July 31st. The shares were bought at an average price of $123.55 per share, for a total transaction of $61,775.00. Following the transaction, the director owned 21,543 shares in the company, valued at $2,661,637.65. This represents a 2.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 1,939 shares of company stock worth $237,725 over the last quarter. Corporate insiders own 0.22% of the company's stock.

Phillips 66 Profile

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.